Jim Rogers: "The FED Do The Right Thing? They Are Incompetent!"

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01. i'm delighted to be here but maybe i don't have maybe jeff just has all the answers i have all the answers jim but i'd rather hear him from you and so would everybody else okay you correct me if i'm wrong i will definitely do that um but you know that no you make me laugh you're funny on that note here we sit today then our last conversation a quick recap we thought volatility was going to happen in the back half of this year and it's happened way more recent than that and now the market's recovered and the undercurrent of the market is positive even in a rising rate environment the next question i have for you though is will the fed do the right thing and not accelerate rates too quickly and kill the market and the economy and will they do that because of russia invading ukraine jeff what do you mean is the fed going to do the right thing they're bureaucrats they're incompetent they're academics what are you talking about i guess i've been around longer than you all they care about is keeping their jobs they don't care about you and me and they think that if they print more money everything will be okay yeah they have to raise interest rates but i assure you jeff if things get messy they'll slow down they're amateurs well that's why that's why you're answering the questions and i'm asking them jim for that exact reason you're very entertaining and i think that's the correct answer they are amateurs and they're behind the yield curve so let's let's switch gears here for a minute and talk about something really exciting jim we know that the electric vehicle adoption rate is doubling every 14 months and that's a global phenomenon so is this energy's last hurrah at some point will just energy just a collapse in prices in maybe three four five years what what you know what's your forecast on that well yeah known reserves of oil have been in decline for some time we had a bubble in fracking which you know put off the the problems with with energy supplies now the war of course has made it worse but no there are going to be continued problems in the hydrocarbons business oil and gas for some time to come because known reserves are declining yes fracking will help us but now everybody knows that fracking was a bubble and you got to pay your bills is that even true if is that true if trump gets reelected i'm teasing you is that true even if president trump gets reelected in 2024 wait it doesn't matter who's the president 2024 that's not going to make suddenly more gas gas and oil reserves to suddenly be in the ground uh whoever you know if the president of exxon is elected president it's still not that's not going to make more gas and oil underground we have an ongoing problem and it gets worse jeff because everybody is down on coal so we cold close the coal mines well fine that's okay if you if that's what you want but that means less energy then you close in the nuclear power plants that's okay but that means less energy nobody has become a farmer the average age of farmers in america is 58 the average age of farmers in japan is 66 i could go on and on i mean do you know how to i suggest you learn how to drive a tractor that both of you that's a great idea dave why don't we just go buy you know a couple hundred acres and start planting there you go that's great hey run a boat fly an airplane just driving a tractor should be easy after all that by more than 200 acres you'll be really really really rich not not a bad idea jim not a bad idea but with all this stuff going on in ukraine being the largest wheat producer the third i guess largest reproducer in russia being the fifth largest we know that there's going to be significant depressions in those countries and what's the reverberating effect going to be on our markets even though the current uptrend in the market the undercurrent is up what do you see happening in relation to the geopolitical issues well and this is all out really horrible horrible war what we have so far is bad enough but i'm talking about you know march armies marching around the countries of europe i the markets are telling me this is not going to last much longer you can see what's happening stocks are going up oil is going down i mean people somebody thinks that this is going to end fairly soon if it doesn't then first prepare for the horrible bear market we're going to have a horrible bear market eventually but if this turns into war oh my gosh i cannot remember any market that likes war jeff small jim rogers uh it's been our pleasure thank you so much for being here today on the income generation my pleasure